Press Releases
The following are press releases mostly from NPEC which is Maximum's jv partner but does contain one from MXR, all of the releases are about the Mina Claudia Project. This is a hill that has two named mineralized deposits that show up in these reports Mina Claudia and Manto Milagroso, but the whole project can be called the Mina Claudia Project.
Thursday October 24 9:45 AM EDT
NP Energy Corporation completes copper/gold
acquisition
LAKE ELSINORE, Calif.--(BUSINESS WIRE)--Oct. 24, 1996--NP Energy Corporation is pleased to announce that the company has acquired a 20% interest in a substantial copper/gold property in Chile. The property is located about 38 kilometers S.E. of Copiapo, Region III, Chile and consists of seven concessions covering an area of 1100 hectares. Local miners are currently producing small tonnage of high grade copper/gold ore that is classified as "direct shipping ore" by the Enami refinery. This kind of production has been consistent for many years and has been a mainstay for several families in the Sierra de al Platta area. The quality of the ore and consistent production have not escaped the notice of mining and development companies. NP Energy Corporation and its partners recently sent two independent geologists to the property in order to verify data and information presented by Chilean representatives. Their report is summarized as follows:
"Mineralization on the concessions occurs as mantos over an apparent thickness of 30 meters to 100 meters. The manto style of mineralization is usually quite extensive and the potential exists for the development of a multi million ton deposit carrying economic grades of copper ore. The mineralization at the Mina Claudia occurs as
malachite, azurite, chrysacolla and specular hematite. The mineralization at the Manto Milagroso was observed to extend over 1000 meters in elevation and consists of malachite, azurite, chrysacolla and specular hematite. Samples taken Manto Milagroso returned values in copper, gold and silver that are unexpected. Results indicate that the dacite dome is more than a cap rock to the underlying andesitic
volcanics.
"The occurrence of a supergene enrichment zone at relatively shallow depths on the adjacent ground indicates the possibility of similar supergene zones on the Mina Claudia and Manto Milagroso properties. A drill program is recommended to confirm the grade and tonnage of the mineralization. Several deep holes are also recommended to test the supergene enrichment zones."
A bulk sample has been sent to the lab for analysis and results will be made available as soon as possible.
On behalf of the board of directors
Per: Larry Regis Jr., President
Maximum Resources Inc MXR
Shares issued 9,852,825 Nov 21 close $0.20
Thu 21 Nov 96 News Release
Mr Russell Godwin reports
Further to news in Stockwatch July 26 1996, negotiations to acquire a
minority interest in a copper/gold property in northern Chile are nearing completion.
The property, 38km southeast of the city of Copiapo, and now comprising a total of approximately 3100 hectares, is currently undergoing exploration and small scale production development. Recent selected grab samples have run from 2.54% to 9.12% copper and 0.03 to 0.21 g/t gold. In addition, a recent bulk sample consisting of 23.27 tonnes returned an average grade of 2.13% copper. Current small tonnage production from this property of 100 to 200 tonnes per day of direct shipping ore is currently being processed at a nearby Enami copper refinery. Further news on the acquisition will be released when available. As part of the continuing reorganization of the company, the oil and gas projects developed by the previous management have been or will be written off.
All: News Release
News Release - August 29, 1996
NP Energy Corporation reports that further progress has been made in the Chilean copper project. A subsidiary company has been formed and incorporated under the laws of Chile. Sierra de La Platta Ltda. becomes the project corporation for the joint venture partnership
to which NP Energy Corporation will subscribe. Company geologist Mr. Malcolm Fraser will be going to Santiagoon Monday August 30, 1996 to attend further work in this regard. In other developments a cut was made on a rock face on the Milagrosa claims on the property.
The ore intersected by this cut extends for over 150 meters in width, unknown thickness with 3 meters exposed, and is considered to be direct shipping ore in that it is rich enough so as to preclude the necessity for concentrating before shipping to the refinery. A five
hundred pound sample has been shipped for essay.
FOR FURTHER INPORMATION CONTACT: Investor Relations-415-261-9608
NP ENERGY CORP. ("NPEZ-ZL")
- Geological Reports from Gordon House Received
Larry Regis Jr., President of NP Energy Corp. announces that further
to the company's July 23, 1996 news release on the Chilean copper project, geological reports from Gordon House, P.Geo. have been received and are summarized as follows:
The property is located about 38 km SE of Copiapo, Region III, Chile
and consists of seven concessions covering an area of 1100 hectares.
Mineralization on the concessions occurs as mantos over an apparent
thickness of 30 meters to 100 meters. The manto style of mineralization is usually quite extensive and the potential exists for the development of a multi million ton deposit carrying economic grades of copper ore. The mineralization at the Mina Claudia occurs as malachite, azurite, chrysacolla and specular hematite. The mineralization at the Manto Milagroso was observed to extend over 1000 meters in elevation and consists of malachite, azurite, chrysacolla and specular hematite. the results of a systematic sampling program on the Mina claudia are very encouraging in that most of the copper analysis was around 0.4%. The samples were taken as chips over 1 to 2 meters as impartially as possible with no bias towards copper stained pieces as against barren looking wall rock. The gold and silver values were interesting with gold values being anomalous and silver values up to 4.6 grams per ton. Samples taken Manto Milagroso returned values in copper, gold and silver that are unexpected. Results indicate that the dacite dome is more than a cap rock to the underlying andesitic volcanics. The occurrence of a supergene enrichment zone at relatively shallow depths on the adjacent ground indicates the possibility of similar supergene zones on the Mina Claudia and Manto Milagroso properties. A drill program is recommended to confirm the grade and tonnage of the mineralization. Several deep holes are also recommended to test the supergene enrichment zones.
Copper Project in Chile:
On July 23, 1996 NP Energy announced negotiations to acquire a
significant interest in a copper gold project in Chile. Selected samples, channel samples and grab samples from the property returned values of between O.30% and 4.82% copper with significant gold and silver values. Geologists Malcolm Fraser and Gordon House have completed their due diligence of the Sierra de la Platte Project. Comments in the report state that "the potential exists for the development of a multi-million ton deposit carrying economic
grades of copper mineralization". An earlier report by geologist Pec Santos states that the tonnage potential for copper silver gold ore is "definitely greater than 200 million metric tons.". Geologists Fraser and House have recommended an immediate drill program to test the overall grade and tonnage.
For further information please contact Investor Relations at (415) 261-9608
On behalf of the Board of Directors:
Per: Larry Regis Jr.,
President
Corporation is Monday November 4 12:30 PM EDT
NP Energy receives excellent results from bulk sample
VANCOUVER, British Columbia--(BUSINESS WIRE)--November 4, 1996
NP Energy pleased to announce that excellent assay results from a
large bulk sample have been received. The sample, taken from the 20% owned Mina Claudia copper/gold property located near Copiapo, Chile, was sent to the nearby Enami copper refinery and returned an average grade of 2.13% copper. This sample material consisted of 23.27 metric tonnes and represents the current production grade ore.
The Mina Claudia is currently in small tonnage production of 100 to 200 tonnes per day of "direct shipping ore". Investment will now be made to increase the daily production rate and more clearly define the ore zones. Samples have also been taken for a metallurgical program to more clearly determine the characteristics of the ore for large scale commercial production. Current data suggests that the ore may be
amenable for leaching. The metallurgical program will also investigate other potential commercial recovery methods.
In addition, a full scale exploration program to investigate the tonnage potential of the supergene zone and the general geological structure will be started as soon as possible.
NP Energy is also pleased to announce that additional claims totaling
almost 2,000 hectares (2.4710 acres per hectare) have been acquired adjacent to the Mina Claudia claim group. The ground includes the Virginia claim which is currently producing gold at a small daily tonnage rate.
CONTACT: NP Energy
Investor Relations, 415/261-9608
or In Vancouver, British Columbia
Tel: (604) 981-3083
Fax: (604) 981-3093
NP Energy Corporation reports that consulting geologist Malcolm Fraser
has been working in Chile on the Mina Claudia copper/gold project and
reports as follows:
Two areas of mineralization have been opened up in the last month. Both areas appear to form parts of the same mineral horizon, separated by approximately 200 meters horizontally and 100 meters vertically. The southwestern opening has exposed mantle type mineralization over a
vertical height of 3.5 meters. The grade of mineralization exposed will require verification by assay. Visual estimates of up to 14% copper were taken in some of the specimens. The average grade of the new cut is expected to be 3-4% copper. The cut was bottomed in mineralization. The more northwesterly new opening was in a magnitite rim. A number of representative samples were taken across the face of the cut (App. 4 meters wide and 3 meters deep) Visual estimates will place the copper content in the 3-6% copper range. the cut was bottomed in mineralization.
The mantle structure is made more visible by the work done by the Garcia brothers. The horizontal extension of the Manta Milagroso prospect towards the Mina Claudia now appears more confirmed.
The Mina Claudia and Manta Milagroso represent an example of the
"Manto" type copper gold mineralization found at the nearby Candelaria
(Phelps Dodge) open pit mine and may well represent an extension of the same mineralized horizon as observed by the writer. Phelps Dodge has spent over $1 billion in the development of the Candelaria mine, one of the largest copper gold deposits in the world.
FOR FURTHER INFORMATION CONTACT; Investors Relations-
415-261-9608 |
